$1.1 Million in EOS Tokens Unconverted After MainNet Migration

Silver EOS cryptocurrency single coin

Following its MainNet migration to its own blockchain on June 2nd, it seems a large number of EOS tokens were not converted in time to the new tokens.

During any conversion, it is expected that some tokens may not be migrated in time, as users need to move funds to a supported exchange. However, it appears as much as 1.5 million of the old ERC20 protocol tokens, eosDAC tokens, have not made the swap and are still on the EtherDelta platform. There are also another 74,483 old tokens worth $1.1 million in a wallet owned by EtherDelta.

Apparently, a system for recovering these tokens does exist, although it’s uncertain when and how this can be implemented. It possible that users will need control of the private key of the Ethereum address linked to the ERC20 tokens, which is unlikely to be possible on the EtherDelta platform.   

In the event of the tokens being unrecoverable, the supply of EOS in circulation would be greatly reduced, caused significant issues for the EOS cryptocurrency.

When and how a solution to the problem will be developed is uncertain.

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